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MAIN PAGE > Journal "Finance and Management" > Contents of Issue № 04/2020
Contents of Issue № 04/2020
Question at hand
Salnikov K.E. - Foreign experience in reducing the construction time pp. 1-13


Abstract: The subject of this research is administrative relations that arise in the process of reducing the construction time as a branch of material production that is carrying out erection of buildings and reconstruction of structures of various designation. The object of this research is the construction complex as a whole; companies of various corporate structure functioning on the investment-construction sector; organizational legal forms of interaction between the parties to the investment-construction process; state regulation in the sphere of major construction. The goal of this article consists in examination of foreign experience in resolution of primary issues with regards to construction time management: assessment of the duration of processes and allocation of resources. The author explores such aspects of the topic as the economic component of administrative impact upon the implementation of a construction project; parameters of project management (time, quality, and cost); modern time management techniques; business process reengineering; principles of cross-team building. The scientific novelty is defined by the insufficient study of the questions of improvement, theoretical, experimental and feasibility study of technological processes, methods and forms of construction planning and its production facilities in the context of reducing the construction time. The value of this work for the national economy consists in studying the theory and practice of reducing the construction time and searching for solutions of scientific and technical problems of construction by means of development and creation of the competitive construction technologies, as well as organizational and technological decisions. The following results were achieved: determination of the key parameters of project management (time, quality, and cost); analysis of cost increase of the project depending on usage of the strategies for reducing production schedule; examination and visualization of development strategies for increasing competitiveness of the companies in complex business, as well as assessment of the level of customer satisfaction according to the system of basic criteria. The author passes an original opinion on the effectiveness of time reduction techniques.
Regulations of the government and municipal orders
Fedoseeva K. - On the issue of imposing restrictions on budgetary (autonomous) institutions that carry out purchases in order to fulfill state (municipal) tasks pp. 14-23


Abstract: The subject of the research in this article is the restrictions provided for by the draft law submitted to the State Duma of the Russian Federation in relation to budgetary (autonomous) institutions engaged in procurement for the purpose of fulfilling state (municipal) tasks. The purpose of the study is to analyze these restrictions in the context of the reform carried out in relation to budgetary (autonomous) institutions aimed at increasing their economic independence. The article makes a scientific assessment of the legal possibilities of attracting co-executors for state and non-state organizations in the process of rendering state (municipal) services in connection with the adoption of Federal Law No. 189-FZ of July 13, 2020 "On State (Municipal) social order for the provision of state (municipal) services in the social sphere". The issue of the organization of law enforcement in the studied area, namely the use of the budget classification tool of the Russian Federation and other methods of identification of purchases, is considered. The author used such methods as comparison, generalization, system analysis, modeling and deduction. В  A special contribution of the author to the study of this topic is the formulation of general criteria that would enable institutions to attract performers (contractors) to perform works (provide services) in order to fulfill a state (municipal) task if the draft law under consideration is adopted. The main conclusion of this study is the need to bring to uniformity the regulatory regulation of the right to conduct procurement for the provision of public (municipal) services by both public and private organizations. This is due to the introduction of budgetary (autonomous) institutions into the competitive market along with other non-governmental organizations and giving them a certain economic freedom as a result of the initiated reform.
Question at hand
Liu Y., Zub A.T. - Features of managing Large Bridge Construction projects in China pp. 24-32


Abstract: Using the methods of document research and comparative analysis, the author examines in detail such aspects of the topic as the role of the state in the management of large construction projects, a three-dimensional model of integrated management of large bridge projects, the impact of fine management on improving the quality of the project, the function of "cultural management", etc. Special attention is paid to the management of bridge construction projects between the river and by sea is a large-scale, complex and integrated management of engineering projects, representing the characteristics of interdisciplinary, multi-domain and multi-regional cross-penetration, reflecting the rich connotation of overall planning, coordination and integration of resources. Based on the analysis of the Sutong Bridge, the bridge over the Hanzhouwan Bay, the Jiangyin Bridge, this article summarizes the feature of construction project management in China. В  The main conclusions of the study are the mechanism of the state's influence on the management processes of large construction projects that ensure great success of megaprojects. In the course of modernization, China has formed a set of management characteristics of large-scale engineering bridge construction with Chinese features thanks to a large amount of research and practice. With the support of the country as a basis, a management system combining industrial management and engineering construction management, national power and business. The mutual influence of the authorities, the combination of cultural management and emotional management through a "refined" transformation of management comprehensively guarantee the successful completion of the construction of super-large bridge projects. It provides background information for managing other large-scale engineering projects. The construction of large-scale projects laid the foundation for China's socio-economic development.
Financial markets
Sidorov A.A. - Securitization as a method of managing the liquidity of a commercial bank pp. 33-40


Abstract: The financial system of the Russian Federation is currently facing deterioration of the conditions of external business environment. The spread of the coronavirus infection COVID-19 turned 2020 into the most difficult year for development of banking system of the Russian Federation. This article is dedicated to the research analysis of practical role of securitization as a mechanism and method used in management of the internal liquidity of a commercial bank. The relevance of this study is substantiated by the need to improve the mechanisms of financial risk management, which emerge in activity of credit institutions that experience a shortfall of internal liquidity of the assets. Methodological framework is comprised of the general scientific methods of cognition of economic phenomena, which allowed viewing the relevant tools of managing the liquidity of commercial banks and indicating most topical issues and barriers. The research is based on the combination of normative and positive analysis, principles of uniformity of historical and logical, as well as analytical approach towards studying the economic phenomena that reflect the contradictory nature of social processes. The article examines the relevant problems of formation of the internal liquidity of banking sector of the Russian Federation; as well as theoretical aspects of the concept of “liquidity” of a commercial bank. Description Is given to the mechanism of managing the liquidity of a commercial bank. The author considers the fundamentals and characteristic of securitization as a method of managing liquidity of a bank, and lists the advantages of using securitization in ensuring internal liquidity of banking activity. The benefits of securitization as a method of managing the liquidity of commercial banks in the Russian Federation are analyzed.
Economic control and management
Salnikov K.E. - National experience of reducing construction time pp. 41-57


Abstract: The subject of this research is the management relations that arise in the process of reducing construction time as a branch of material production that carries out erection and reconstruction of buildings and structures for various designation. The object of this research is the construction sector as a whole; enterprises of various forms of ownership that function in the investment and construction sphere; organizational-legal forms of relations between the parties to investment and construction process; state regulation in the area of capital construction. The purpose goal of this work consists in examination of national experience in solving the key issues of managing construction period: estimation of time and allocation of resources. Detailed analysis is conducted on such aspects of the topic as the economic component of management impact upon realization of a construction project; critical factors the internal and external environment of construction process and their causes; application of mathematical methods that calculate the likelihood of external influence based on evaluation of the impact of environmental factors; innovative component in project management. The scientific novelty is define by insufficient coverage of the questions of improvement, theoretical, experimental and feasibility study of technological processes, methods and forms of construction management along with its production capacity with regards to the problems of reducing construction time. The following results were obtained: Assessment of the level of prior studies of the problem of reducing construction time for determination of promising directions for further scientific research; Description is provided to the methodology of managerial impact upon realization of a construction project, including the key factors, stages, and outcome; Demarcation the concepts of actual, estimated and normative construction time is conducted; Evaluation is given to project management pertinent to objective establishment of construction time;  The role and place of innovation component and planning in project management are revealed; Technical and technological methods for optimization of construction projects are examined; The article discusses the alternatives of reduction of time allotted for construction, as well as outlines the vectors for solution the problem of optimization of construction time.
Regional economy
Arakelyan A.G., Simonyan A.R. - The concept and framework for assessing competitiveness of tourism cluster pp. 58-68


Abstract: The subject of this research is the economic and organizational relations regarding the formation and assessment of competitiveness of tourism cluster, as well as correlation between the level of competitiveness and various trajectories and stages of the lifecycle of tourism clusters. The object of this research is the tourism sector of economy and its separate enterprises unified by specific relations into the cluster territorial-industrial formations. The article employs the works of Russian and foreign experts in the area of economics and management of tourism sector of the economy. The scientific novelty is substantiated by gain of knowledge on the content, maintenance, assessment, and role of the economic category of “competitiveness of tourism cluster”, including the formulated definition of this concept, its components, elaboration of assessment framework and classification of the criteria of competitiveness of tourism cluster, as well as methodology for determination of lifecycle stages and trajectories in development of tourism cluster. The acquired results are of theoretical importance as a reference point for further research and possibility of practical implementation as an instrument for development management of tourism sector of the economy. The presented materials can be used in the development of tourism services online platform based on digital technologies.
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